Digital Disclosures

Cooley, Scott
January 2005
Mortgage Banking;Jan2005, Vol. 65 Issue 4, p130
The article analyses the use of technological systems in the mortgage banking industry. According to the author only the very best mortgage technologists are good at determining what a mortgage company can actually use and what will prove productive. Some of these technologists have proven they are really good, but even some of them have ended up steering their companies in the wrong direction, and then moved on to the next company. The upfront disclosure package includes a large number of documents, which can easily exceed 25 pages. Generally, the legal requirements stipulate that these documents be delivered within three business days after the lender's receipt of a loan application.


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